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Henrico County School Board adopts FY2027 budget, preserves 3% raises while trimming $22.9M
Summary
The Henrico County School Board unanimously approved the FY2027 adopted financial plan effective July 1, 2026. The budget supports a 3% across-the-board raise at an estimated $18.3 million but required a $22.9 million general fund reduction and moved 62 full-time positions to the county hold complement.
The Henrico County School Board voted unanimously April 16 to adopt the fiscal year 2027 annual financial plan, which takes effect July 1, 2026.
Finance presenter Mr. Wack told the board the adopted budget was adjusted after the county compiled the countywide plan and identified lower-than-expected state aid and real estate tax revenues. "We needed to allow for a $22.9 million reduction to our general fund budget in order to support a 3% employee raise, which will cost about $18.3 million," Mr. Wack said. To balance the budget, 62 full-time positions — primarily in English learner and exceptional education areas — were moved to the county's hold complement; staff said they hope to restore positions if additional state aid becomes available.
The operating budget reflects an overall increase of roughly $25 million (about 3.3%) over the current-year adopted budget, driven in part by meal taxes and other local funds. Mr. Wack said instruction remains the largest portion of the general fund budget at about 76% of expenditures.
Board members thanked staff and supervisors for the collaborative process and noted that the board previously approved the superintendent's recommended budget on Feb. 26. The board requested the full adopted budget document be distributed at the April 30 meeting.
